New RE investor -need that BRRRR !
Hello BP! I am a fairly new RE Investing. Currently self manage my own 2 Rental properties and seeking for my 3rd investment property this year (hopefully). I am Currently enrolled on a Real estate Broker course and learning a ton, so hoping to take the test next month.
I have been looking at the BRRRR strategy but not having any rehab experience puts me somewhat hesitant to do this.
is there any experienced Fix/flip investors out there willing to give a crash course to somebody looking to get started?
im more looking to make sure my calculations are as close to spot on as possible for our local market. (ARV, appraisal, rehab costs etc.) Do's and Donts, common mistakes etc.
Im Possibly looking to do a BRRRR with a foreclosure purchase in a A or B Class Area.
thank you in advance
Most Popular Reply
Hey Rafael, Welcome to Bigger Pockets!
We currently practice the BRRRR strategy.
There is much to learn, especially when just getting started and I would encourage you to invest some time in your education.
I've found Audible Audiobooks are a great resource to learn from. I use Audible daily. I can listen to books and educate myself on whatever I want while at the gym, in the car, etc.
I currently have 200+ books in my library and if you'd like any recommendations on a particular area of study, send me a message and I'd be happy to provide you with some.
A couple I'd recommend that will give you a "crash course" are..
Buy, Rehab, Rent, Refinance, Repeat - The BRRRR Rental Property Investment Strategy Made Simple
FLIP - How to Find, Fix, and Sell Houses for Profit
The Book on Flipping Houses How to Buy, Rehab, and Resell Residential Properties
This book is not currently available on Audible but a must read
The Book on Estimating Rehab Costs - J Scott
Bigger Pockets has become one of my best resources. I encourage you to get involved, ask questions, be open to feedback, and allow other seasoned investors to help guide you along your journey of Real Estate Investing.
Best of Luck!